During 2022, Rousseau Industries reported net sales of $4,200,000, net income of $950,000, and depreciation expense of $150,000. Rousseau beginning also total reported assets of $1,600,000 and ending total assets of $2,000,000. What is Rousseau's asset turnover?
During 2022, Rousseau Industries reported net sales of $4,200,000, net income of $950,000, and depreciation expense of $150,000. Rousseau beginning also total reported assets of $1,600,000 and ending total assets of $2,000,000. What is Rousseau's asset turnover?
SWFT Essntl Tax Individ/Bus Entities 2020
23rd Edition
ISBN:9780357391266
Author:Nellen
Publisher:Nellen
Chapter8: Property Transactions: Capital Gains And Losses, Section 1231 And Recapture Provisions
Section: Chapter Questions
Problem 35P
Related questions
Question
Subject general accounting
Transcribed Image Text:During 2022, Rousseau Industries
reported net sales of $4,200,000,
net income of $950,000, and
depreciation expense of $150,000.
Rousseau
beginning
also
total
reported
assets
of
$1,600,000 and ending total assets
of $2,000,000. What is Rousseau's
asset turnover?
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